By Angela Gonzales | Phoenix Business Journal
Blue 85.6-acre parcel at SW corner of Loop 101 and Hayden Rd in Scottsdale sold at auction April 13.
A developer bought a prime piece of land in Scottsdale at an Arizona State Land Department auction on Wednesday.
Hayden Loop 101 Investors LLC, an entity tracing to Scottsdale-based De Rito Partners Development Inc., was the winning bidder on the 85.6-acre site at the southwest corner of Loop 101 and Hayden Road in Scottsdale.
De Rito, which filed the application to request the state land department put the parcel up for auction, paid $61.85 million, the minimum starting bid, according to the state land department.
The developer’s application said the property would be used for commercial and industrial uses.
De Rito executives could not immediately be reached for comment on the plans for the property.
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